Higher corn, soybean markets Wednesday
The CME Group corn, soybean and wheat markets are poised to take back losses from earlier this week Wednesday.
The Early Calls for the commodities on Wednesday, September 18, 2012, are higher. Corn is seen opening 9-11 cents higher, soybeans 22-25 cents higher, and wheat 15-17 cents higher.
In overnight trading, the Dec. corn futures contract traded 9 cents higher at $7.49 per bushel. Nov. soybean futures traded 25 cents higher at $16.65 per bushel, and Dec. wheat traded17 cents higher at $8.80. For Dec. soybean meal futures, the contract traded $10.00 per short ton higher at $502.00. Dec. soybean oil futures traded $0.21 higher at $55.54.
The outside markets are unfavorable for Wednesday's grain trade. The real factors driving the calls will be the higher overnight markets.